Founded over 19 years ago, Denave filled the void in the industry by providing end-to-end sales enablement solutions. They had clear focus on revenue acceleration, optimisation of return on investment and measurable impact by leveraging people, processes and technology. Co-founder and global CEO Snehashish Bhattacharjee spearheads the strategic goals of the company and is instrumental in building the company’s future roadmap.
With technology and innovation as the convergence point, Bhattacharjee is aiming to emerge as the world’s largest sales enablement organisation.
In an interaction with Analytics India Magazine, Bhattacharjee talks about how Denave is disrupting the world of sales using sales process automation, business intelligence, machine learning and analytics to cater companies across the industries globally and also shares his insight on how data analytics is evolving in India:
Analytics India Magazine: How can data and analytics help companies drive better sales? How is Denave enabling companies to accomplish that?
Snehashish Bhattacharjee: Data analytics has a critical role to play in sales in terms of sourcing, checking purchase history and prioritising, identifying probable prospects, and sales process and fulfilment.
Denave, enables the organisations with its tech and analytics practice led services at each of these stages during the entire sales journey. With our solutions, we are changing the industry landscape with the integrity of revenue, proof of execution and ROI orientation that we bring to marketing processes as well as technology solutions.
AIM: Tell us more about Denave’s Intelligent Database Management and other analytics services provided by the company
SB: Denave’s Intelligent Database platform focuses on two primary areas:
- Building a tech-enabled access to organisational level information, that enhances contactability and access to profile information which is relevant to prioritise sales drive focus.
- A suggestion engine (Smart Database Access Platform) which allows identifying the probability of purchase.
Along with this, we also have services around these areas:
- Data Engineering: We consider this a prerequisite to build an effective Data Visualisation engine, leading to impactful sales and marketing analytics.
- Data Visualisation and Dynamic Narratives: We leverage popular platforms in conjunction with our CRM to help provide this as a service.
- Analytics Practice: Here, we presently have built a practice around Retail Analytics which we provide to customers across 14 countries, including India.
AIM: Customer centricity is important in the analytics industry. How is Denave helping businesses to discover untapped customer database and reach out to more customers?
SB: Appropriate customer analytics strategy is required to support business leaders to develop well-informed plans with minimal risks, that drives profitability through optimum customer spends. This is where Denave’s UDB (Unified Database Platform) in conjunction with SDAP, comes into play. We have built an engine around consolidating database from multiple sources, leveraging technology and then consolidating, cleaning and integrating the same leveraging in-house developed rules and algorithms.
This is then made to run through our suggestion engine (SDAP) that leverages past purchase history of the product or similar products to identify the probability of purchase, leveraging affinity or similarity mapping. We have built this prototype for India and Malaysia already and are in the process of replicating the same for multiple geographies.
AIM: What are the various industries you serve? Highlight few use cases where they have been benefited with Denave’s solutions?
SB: The major industry verticals that we cater to, includes Tech, Telecom, FMCG, consumer durables, oil and natural gas etc. Typically, at a point of time, we work with 150-200 customers altogether. Here are some of the use cases:
- Retail Analytics Practice for one of the world’s largest search engine
Denave helped one of the largest search engine to analyse the data quality and increase the efficiency of its merchandising activity. With our Integrated Analytics Platform, leveraging services like data assessment, availability optimisation analysis and visibility optimisation analysis, Denave’s Retail Analytics practices has helped the client to achieve:
- Up to 99.9 percent improvement in data quality
- 2X faster TAT (4 weeks to 2 weeks)
- Standardisation across 14 countries
- Data Visualisation for a technology giant
One of the world’s largest technology company approached Denave with some of the prevailing challenges such as:
- Scattered/manual reporting structure
- Lack of process automation
- Lack of integrated view for the overall operations
- Data quality issues
- Excess man-hours and efforts
In a nutshell, our Data visualisation tool has helped client in achieving:
- 60 percent reduction in TAT
- 360-degree view of business operations
- Higher sales closure analysis based on predictive analytics to identify highest probability verticals
- Incremental revenue opportunity identification
- Geo expansion and SMB penetration based on propensity analysis
- Real-time analysis of agent productivity
- Data-driven higher product affinity analysis
- Effective lead conversion mapped against high performing agents leading to better productivity and higher results
- Resource optimisation and higher productivity analysis through performance mapping
AIM: What are the technologies that are going to change the sales game in India?
SB: Some of the trends that are enabling the sales world to usher into an era of remarkable transformation are:
Intelligent Platforms: Sales enablement platforms such as CRM, SFA tools etc. will move towards AI for increasing the analytics and intelligence leverage within these platforms. This significantly increases the productivity and reduces the need for any manual training intervention.
Social Media: Leveraging Social media will bridge the gap between marketing and sales by reducing the time taken to target customers and improving campaign effectiveness.
Digital Marketing Platforms: Digital Marketing platforms will become more precise by leveraging AI enabled analytics and identifying high propensity prospects so as to exponentially increase sales productivity.
AR/VR: Augmented/ Virtual Reality will be leveraged more in areas wherein visual impact is created using objects/people. For instance, training in industries such as Aviation (or other industries manufacturing heavy-duty devices) will start leveraging AR/VR devices like MS HoloLens etc. to replace physical presence at a single location of both attendee, as well as the instructor.
Speech recognition: Digital transformation and AI proliferation will leverage the advancement made in speech recognition so as to improve the deployment of sales tools, by replacing input mechanism through speech.
Online Commerce: In the years to follow, will see a fast transformation in the consumer buying behaviour on the internet, and the subsequent change will increase the overall market penetration potential – at half or less than half the cost.
AIM: How is Denave helping companies create an insight-driven sales pipeline?
SB: With an intelligent database management, sales analytics practices and digital marketing tactics in hand we help companies through our 5-stage sales process through sourcing, probability mapping and propensity gauging by leveraging tech, analytics and sales skills. All this ultimately leads to higher productivity and faster and accurate conversion for our customers.
AIM: How is Denave using data analytics internally? Highlight some of the analytics tools used by the company?
SB: Tools effectively used at Denave are our in-house built Integrated Analytics Platform (IAP), Data Visualisation tools like Power BI, Tableau and Google Data Studio.
At our IAP, technology and analytics meet to enable tighter performance tracking and faster decision making.
AIM: How is Denave using Predictive analytics?
SB: At Denave, Predictive analytics is being used to help customers identify the potential next set of buyers or purchase cycles based on seasonality and affinity mapping of past purchase. Along with this, Predictive Analytics helps us in identifying the sales pattern, leading to potential market issues that need to be resolved.
AIM: How has been the growth story of Denave so far?
SB: Over the years, we have built multi-industry expertise partnering with global businesses and adopting a solution-focused approach to deliver best practices in sales.
With over $5 billion in revenue contribution to clients in this 19-year span, we can confidently say that we understand the industry pulse and what it takes to be profitable in the marketplace. With time, the concept of sales enablement has evolved and we have evolved with it – our evolution from an Indian, to an Asian and to now a global entity stands testimony to that. We have delivery centers in India, Singapore, UK and Malaysia and we will soon open a center in US. With a reach spanning 5 continents, 50 countries and 500+ cities globally and our innovation-first approach, we are disrupting the world of Sales in a major way. We aim to build world’s largest Sales Enablement organisation in the years to come.
AIM: How do you think analytics in India is evolving? How is big data going to revolutionise sales in India?
SB: Analytics in India has a long way to go. The primary challenges revolve around getting your raw material organised before actual analytics can be applied. A large part of the focus is still around data engineering and data visualisation. Even predictive analytics is also still evolving in India.
Big Data has a very strong role to play in consolidation and sourcing of potential prospects in India, especially in the light of government’s claim of there being 70 million entities in the country’s business landscape. On the tech leverage around analytics, the most relevant and dynamic development is happening around data visualisation. Therefore, instead of just Big Data, the ability to visualise, read and therefore predict outcomes from that big data, has a key role to play in the evolution of sales Industry in India.
All in all, Analytics as a practice is budding well in India with some pure play analytics practice organisations coming up. However, there is still a large gap in the sales analytics arena due to lack of domain depth of the existing players.
AIM: What is the roadmap for analytics at Denave?
SB: Analytics roadmap at Denave is spread across four critical stages:
- Data Engineering: Acquiring the data and transforming it into a structured and usable data set for diagnostic and descriptive Analytics.
- Interactive Visualisation: Depicting the information in terms of correlated graphs for better and holistic understanding of data and events.
- Actionable Insights and Dynamic Narratives: A synopsis of the critical information and actionable insights enabling quicker informed decisions.
- Predictive and prescriptive analytics: This stage is to predict the future on the basis of historical information and some external categorical parameters, additionally prescribing the action points on the basis of predictions for future readiness.
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